SM Group Chairman Woo Oh-hyun will donate 7 billion won ($5.1 million) in scholarships to Yeoju University.
SM Group said on the 3rd that Woo will provide the scholarships to fully cover state scholarship funding for the university's incoming freshmen next year. The decision follows the government's designation of the school as an institution facing restrictions on state scholarships and student loans in 2027. Last month, the Ministry of Education named Yeoju University and 19 other schools nationwide as subject to those limits. The group said Woo made the decision to minimize the financial burden on parents and students.
Woo also serves as chairman of the Dongshin Education Foundation, which operates Yeoju University, and each year provides about 1 billion won in future talent development scholarships to all incoming students. In 2024, he invested 6.5 billion won in renovating classrooms, dormitories and other facilities to upgrade the school's educational infrastructure, and donated 3.3 billion won to the university's development fund. He contributed an additional 2.3 billion won to the fund this year. Yeoju University President Lee Sang-wook said the school would use SM Group's donation as a stepping stone and pay close attention to ensuring that families of prospective students do not face added burdens.
